SAN DIEGO, Jan. 4, 2013 /PRNewswire/ -- On January 2, President Obama signed a bill that helped avert the fiscal cliff crisis. The CEO of Golden Financial Services, Paul Paquin, discusses this new legislation, the trajectory of the American economy and how it will affect the American consumer looking into a debt settlement program.

The fiscal cliff deal changed the income threshold for tax increases and included a new formula for the consumer price index when applied to some entitlement benefits. While the law received comfortable bipartisan support, the debt ceiling has yet to be addressed and not everyone was completely satisfied with the decision.

However, this is good news for the American consumer. It means that a recession has hopefully been avoided. Debt negotiation will further aid in counteracting a recession by giving more families a higher influx of money each month, which in turn will help support the national economy. Paquin said, "Now that the fiscal cliff issue has been addressed for now, it's time to focus on improving our economy's overall financial well-being. Many Americans are utilizing more than fifty-percent of their credit limit. This equals an unhealthy economy, filled with consumers that suffer from extraordinary amount of debt and a high foreclosure rate. A debt settlement service can have a positive effect on our economy because it allows consumers to pay off their unsecured debts and end up paying less than the balance owed. This increase in monthly cash-flow is needed for them to stay current on their mortgage payments and avoid home foreclosures. Fewer foreclosures in the U.S. equal a healthier economy."

The fiscal cliff deal was not a magic solution to a precarious economy, just as credit card debt relief is not a magic solution to debt problems. However as Paquin says, this is a "reliable and trustworthy solution consumers can turn to. We work hard to educate our customers and get them out of debt quickly. Our mission at Golden Financial Services is to offer the most effective debt relief program to consumers struggling with bills. We all deserve a fresh start."